Hi ForexIndia,
I heard that trading in foreign currency is illegal in India. Is it so?
I am thinking of trading in forex market. will you please help me providing information about the best platform for trading including their service, cost of transaction, spread, and the tools they provide.

I am working on the project “Forex market in India”. Where can I find the data (figures) on Indian Forex market from April 1991 to March 2011. If you could help me please send the details on my mail Id. Thanks.

Many Indian Residents are playing Forex Trading through Internet based Platform ( registered outside India). Many of them has opened up thei liason office in India like Mirror Forex in Noida, Forexcentral in Banglore, Iforex in Mumbai.
When we ask them about it’s legality & permission with RBI, either they keep silent or taking grant under umberalla of NBFC.
My question is whether such activities which is permitted worldwide in almost all countries be valid in India or not !!

If now what would be legal consequenses when one individual sumbit Profit or Loss return to Income Tax Department & sunsequently inform to FEMA Authorities !!

Please give us opinion based to prevailing Law enforced in India specially consulting to RBI cell.